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RE: Ned Scott and @theoretical of Steemit Explore Oracles on Steem

in #ned • 6 years ago

Hi @andrarchy

Thanks for reply.

I will concede that I have a very basic (if that) understanding of the blockchain technology but it did not come across as a explicit thought experiment .Possibly there were discussion before/after the clip which were not shown in the video.

For point 1: so , Oracle/1A1V doesn't apply to STEEM ecosystem. It may be a future non STEEM based project.
For point 3:
Following through with the SMT discussion , for the Dtube coin example : one would not be able to buy Dtube coin on a crypto exchange , rather STEEM can be converted into DTube coin , analogues to how it can be converted into SBD.

Did I get the gist of your reply ?

6 years ago in #ned by
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     6 years ago  

    Any token on the Steem blockchain can theoretically be added to an exchange; see the Steem Blockchain Dollar. That being said, exchanges will only want to host tokens that have reached a certain amount of value and volume. All SMTs will be immediately liquid on the internal exchange and SMT creators will be able to back their token with STEEM which will create liquidity for their token using the automated market maker logic baked into the SMT protocol. But even once an SMT is on external exchanges, it will still be on the internal exchange just like SBD.

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     6 years ago  

    Thanks again for the reply.

    I am a slow learner so can't say I got it in it's entirety but I am certainly excited about the possibilities outlined in this post/comments.

    #ConfusedExcitement

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